AS13 Eqty Rel2'a1'27

    Equity Release Funding (No. 2) PLC

RE: EQUITY RELEASE FUNDING (No.2) PLC
    GBP 45,000,000.00
    MATURING: 26/May/2027
    ISSUE DATE: 11/Jun/2002
    ISIN: XS0147705775

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
26/Aug/2005 TO 28/Nov/2005 HAS BEEN FIXED AT 5.026880 PCT.

DAY BASIS 94/365

INTEREST PAYABLE VALUE 28/Nov/2005 WILL AMOUNT TO
GBP 10.10 PER GBP 780.20 DENOMINATION.
GBP 101.00 PER GBP 7,802.00 DENOMINATION.
GBP 1,010.04 PER GBP 78,020.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 (0)20 7508 3858/3855 OR FAX: 44 (0)20 7508 3881.

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